Last.fm To Offer Advertiser-Sponsored Music
January 23, 2008 at 8:21 AM (PT)
LAST.FM is launching a service to allow anyone to listen to music on the site for free. In launching this service, LAST.FM becomes the first music website to offer free, global, on-demand access to the largest licensed catalogue of music built on partnerships with all four major record labels -- including UNIVERSAL MUSIC GROUP, SONY/BMG, WARNER and EMI -- as well as CD BABY, IODA, THE ORCHARD, NAXOS and more than 150,000 independent labels and artists.
LAST.FM's free-on-demand service will be advertiser-supported, allowing clients many unique opportunities to reach a highly targeted and engaged audience. LAST.FM was acquired by the CBS CORPORATION on MAY 30th, 2007.
It is clear to us that communities built around great content are increasingly driving traffic and revenue online.
"It is clear to us that communities built around great content are increasingly driving traffic and revenue online," said CBS Pres./CEO LESLIE MOONVES. "We acquired LAST.FM because music is one of the best ways to build communities on the internet. Adding such a tremendous collection of content to LAST.FM will help it grow by leaps and bounds. The skill set that we're learning along the way will be very important as we build additional online communities around our other world-class content as well."
MARTIN STIKSEL, LAST.FM co-founder, said, "We're giving the listener free access to what is basically the best jukebox in the world. The ability to dip into such a uniquely broad catalogue from your laptop, home or office computer, and listen to whatever you want for free represents a new way of consuming music that in turn might change the way you listen to music. In that respect, nobody else can currently offer what LAST.FM is offering right now."
At the same time, LAST.FM is launching an unprecedented "Artist Royalty" arrangement, whereby those artists not signed with a label who choose to upload their music to LAST.FM will receive payment, directly from LAST.FM, every time one of their tracks is played. This means artists without traditional recording or publishing deals will be able to reach millions of music fans, offer their music for free, while generating revenue.